Question

Investment Downloads

Forum|Forum|5 years ago
March 16, 2021
1 reply
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I downloaded investment sales but, unlike years past, the TurboTax program now wants me to categorize each of the 119 investment sales. The point of a down load is convenience, and not manual reiteration. Any thoughts on how to deal with this?

H

HelenC12

You could delete the imported information, delete your cookies, clear your cache, reboot your computer and try to import your information again.

If that doesn't work, there is an alternative that is better than manually entering each transaction. You can enter summary totals for each asset sale category. It will require you to mail a copy of your Form 1099-B along with Form 8453 (which TurboTax will generate). See the following instructions from an answer that was posted. Click here.

Tax Tip: Your total capital gains for the year minus your total capital losses result in a net gain or a net loss.

You can deduct a net loss of up to $3,000 ($1,500 if married filing separately). Any capital loss you couldn't deduct this year can be carried forward and deducted on future tax returns as a capital loss carryover.

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